10x Genomics, Inc. (NASDAQ:TXG) CEO Sells $98,740.00 in Stock

10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov sold 2,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $49.37, for a total value of $98,740.00. Following the sale, the chief executive officer now owns 862,093 shares of the company’s stock, valued at $42,561,531.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Serge Saxonov also recently made the following trade(s):

• On Tuesday, August 22nd, Serge Saxonov sold 3,757 shares of 10x Genomics stock. The stock was sold at an average price of $45.78, for a total transaction of $171,995.46.
• On Monday, August 14th, Serge Saxonov sold 2,000 shares of 10x Genomics stock. The stock was sold at an average price of $50.11, for a total transaction of $100,220.00.
• On Wednesday, July 19th, Serge Saxonov sold 40,000 shares of 10x Genomics stock. The shares were sold at an average price of $60.03, for a total value of $2,401,200.00.
• On Friday, July 14th, Serge Saxonov sold 2,000 shares of 10x Genomics stock. The shares were sold at an average price of $58.05, for a total transaction of $116,100.00.

10x Genomics Stock Down 7.1 %

Shares of NASDAQ TXG opened at $46.19 on Tuesday. 10x Genomics, Inc. has a 12 month low of $23.81 and a 12 month high of $63.57. The company has a market cap of $5.42 billion, a price-to-earnings ratio of -31.00 and a beta of 1.77. The business has a fifty day simple moving average of $53.50 and a 200-day simple moving average of $53.25.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.14). The firm had revenue of $146.82 million during the quarter, compared to analysts’ expectations of $139.97 million. 10x Genomics had a negative net margin of 30.31% and a negative return on equity of 21.69%. The firm’s revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.57) EPS. As a group, sell-side analysts expect that 10x Genomics, Inc. will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the company. Brown Capital Management LLC lifted its stake in 10x Genomics by 111.6% in the 1st quarter. Brown Capital Management LLC now owns 3,075,589 shares of the company’s stock worth $171,587,000 after acquiring an additional 1,621,959 shares in the last quarter. FMR LLC lifted its position in 10x Genomics by 36.5% in the 1st quarter. FMR LLC now owns 4,372,294 shares of the company’s stock worth $243,930,000 after buying an additional 1,169,928 shares in the last quarter. BlackRock Inc. lifted its position in 10x Genomics by 14.2% in the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after buying an additional 1,138,358 shares in the last quarter. Point72 Asset Management L.P. lifted its position in 10x Genomics by 198.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,603,168 shares of the company’s stock worth $89,521,000 after buying an additional 1,066,837 shares in the last quarter. Finally, Millennium Management LLC lifted its position in 10x Genomics by 467.3% in the 4th quarter. Millennium Management LLC now owns 1,213,394 shares of the company’s stock worth $44,216,000 after buying an additional 999,487 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TXG. Barclays upped their price target on shares of 10x Genomics from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of 10x Genomics in a report on Monday, August 7th. Finally, Citigroup upped their price objective on 10x Genomics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Moderate Buy” and an average price target of $57.64.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.